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IN THE MATTER OF: M/S. HAJARA TEXTILE MILLS LIMITED versus IN THE MATTER OF: M/S. HAJARA TEXTILE MILLS LIMITED

Sections 83 (3), 476 and 492 Companies (capital issuance) Rules, 1996, R5 Beltreters, Transfer Agent and Insurers Rules, 2001 Submission of new shares Fine on false statement Annual accounts of the company ending June 30 , 2005 stated that after the balance sheet date, the company offered 100 right shares, all of which were taken by the directors and consequently the directors' debt of Rs. 75 million was converted into equity and this Purchased the right shares from. Underwriting the right shares by the directors because they were the owners of the right issue because of the quarterly financial statements under the appointment of directors, underwriting underwriters, transfer agents and underwriters rolls, September 30, 2005 The violation was. To ensure the correct case, the assets were not shown in any of the defaulted assets, observations that raised concerns about the company's affairs, said the reason for the show's notice was issued to the company's chief executive and directors. It asks why the restrictions on the chief executive and company directors after considering the facts of the penalties, under section 492 of the Companies Ordinance, in accordance with the terms provided by Companies Rules, I996 and Section 492 Will not be imposed? In this case, it has been observed that directors, when agreeing on the ability of underwriters, were expected to have complete knowledge of all relevant laws. The directors were advised to be cautious in the future, while in compliance with the Statute Company, incorrect information was given in the circular letter and the estimates, however, were the right deal. best advocate from Astore lawyer